Especially since PayPal has a history of locking people’s accounts.
Back in the day, people used PayPal for e-commerce and if they didn’t like you, say you sold “Fuck PayPal stickers”, they would absolutely freeze your account with all the money in it.
Back when I was doing art for money (not adult or furry stuff, sorry) I had years of racing to the computer or in some cases, the ATM, to transfer new payments out of Paypal.
Because they make decisions on behalf of linked providers, like ebay. If you have ebay fees due, you don’t get flexibility when you can pay it, Paypal just grabs it the next time it sees money come in. They do this with all kinds of fees and payments, if you have a delicate life like say… being a struggling artist, you are gonna get reamed by paypal and associated predatory companies. Not that there’s a lot of choice.
Keep th money you need short-term for your business. Put the rest in index funds. With 100k lying around like that, you lose a few thousand dollars per year to inflation.
Having that much money as a paypal balance and not at least in a bank account or invested is insane
Especially since PayPal has a history of locking people’s accounts.
Back in the day, people used PayPal for e-commerce and if they didn’t like you, say you sold “Fuck PayPal stickers”, they would absolutely freeze your account with all the money in it.
Back when I was doing art for money (not adult or furry stuff, sorry) I had years of racing to the computer or in some cases, the ATM, to transfer new payments out of Paypal.
Because they make decisions on behalf of linked providers, like ebay. If you have ebay fees due, you don’t get flexibility when you can pay it, Paypal just grabs it the next time it sees money come in. They do this with all kinds of fees and payments, if you have a delicate life like say… being a struggling artist, you are gonna get reamed by paypal and associated predatory companies. Not that there’s a lot of choice.
Idk how much of that you’d wanna invest in stocks…soo risky and soo long to see any noticeable returns at all…
Invest in whole market ETFs instead of individual stocks. Much less risky. Still risky, but not stupid risky.
Keep th money you need short-term for your business. Put the rest in index funds. With 100k lying around like that, you lose a few thousand dollars per year to inflation.
What are index funds